BitMine Immersion Technologies (BMNR), the largest corporate holder of Ethereum (ETH) globally, announced on Monday that it has made a significant new purchase of nearly 61,000 ETH.
BitMine owns 3.7% of the total Ethereum supply
BitMine’s latest transaction, consisting of 60,976 Ethereum tokens, marks the company’s largest weekly acquisition in terms of tokens to date in 2026. Following this acquisition, BitMine’s total ETH holdings have increased to 4.5 million tokens.
Remarkably, BitMine now controls approximately 3.76% of the total Ethereum supply and is positioning itself more than 75% of the way to its ambitious goal, the ‘Alchemy of 5%’, in just eight months.
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In addition to his cryptocurrency holdings, BitMine revealed that it has staked 3,040,483 ETH, which is valued at approximately $6 billion based on an ETH price of $1,965 at the time of the company’s announcement.
The company’s total assets, including cash and other cryptocurrencies, have reached $10.3 billion, consisting of 4.535 million ETH tokens, $1.2 billion in cash, and various other crypto assets.
As Ethereum prices stabilize above the crucial $2,000 support level, CEO Tom Lee highlighted ETH’s resilience amid rising prices. geopolitical tensions and rising oil prices.
Final Phases of ‘Mini-Crypto Winter’
Commenting on current market conditions, Lee expressed confidence that crypto prices are entering the final phase of what he called a “mini-crypto winter.”
Ethereum prices showed resilience this week despite growing concerns about war and rising oil prices. We continue to believe that crypto prices are in the late/last phase of the ‘mini-crypto winter’.
Lee also noted that ETH’s price movements follow the trends observed in the US S&P500 during the 2011 and 1987 falls. According to analysis by BitMine’s advisor, Tom DeMark of DeMark Analytics, these historical correlations show correlations of up to 89% and 93% with the behavior of the S&P 500 during those periods.
The analyst also predicts that Ethereum prices will likely bottom between March 8 and March 14, possibly falling just below the recent low of $1,740. This would represent a decline of approximately 14% from current trading prices.
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Lee also added that BitMine’s strategy is to pick up the pace somewhat ETH accumulationincreasing recent purchasing activity from an average of 45,000 to 50,000 ETH per week to the last purchase of 60,976 ETH.
On Monday, Ethereum saw a 4% gain, allowing the token to reclaim the $2,000 mark after a brief dip below that key level over the weekend. At the same time, BitMine’s stock, BMNR, also showed positive movement, trading at $20.70 per share at the time of writing. 10% increase for the company.
Featured image from OpenArt, chart from TradingView.com